There are two methods many people use to determine their homes value, an appraisal and comparative market analysis.
Appraisals vary in cost and are defendable in court. They average about $300 for a single family home and more on multi-family dwellings. Appraisers review numerous factors and base information on recent sales of similar properties, their location, square footage, construction quality, excess land, views, water frontage and amenities such as garages, number of baths, jacuzzi tubs, home theatres, brick, stone etc…
A comparative market analysis (or CMA) on the other hand is an informal estimate of market value performed by a REALTOR® or broker. It is based on sales and listings that will compete with your property that are similar in size, style and location. A range of values will be determined thus arriving at a probable market value. Holdren & Associates offers a free market analysis to all our clients.
The CMA should be in writing and should involve professionally accepted appraisal techniques.
There are five reasons why a property sells, you control four of these:
- Price (buyer controlled)
- Condition of Property
Holdren & Associates REALTORS® will work closely with you ensuring you are competitive within the areas you can control.
Experience has its rewards. Use your real estate advisor for real solutions.
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